This page reflects MMS options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
May 20, 2026 close
Max Pain — MMS
Data as of market close May 20, 2026
Nearest listed expiration 2026-07-17 shows max pain at $65.00 (4.87 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$65.00
Nearest expiry
Expected Move
±$23.38
±38.9%
Days to Expiry
58
Calendar days
Total Call OI
122
Nearest expiry
Total Put OI
80
Nearest expiry
P/C OI Ratio
0.66
Put-heavy
Spot Price
$60.13
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-07-17
Expiration
Max Pain Strike
Last Updated
2026-04-17
$70.00
4/17/2026, 11:17:03 PM
2026-05-15
$70.00
5/15/2026, 11:24:41 PM
2026-07-17NextUpdated
$65.00
5/20/2026, 11:21:14 PM
2026-10-16
$90.00
5/20/2026, 11:21:14 PM
Selected expiration: 2026-07-17 at max pain $65.00.
MMS pain by strike for 2026-07-17 expiration
Strike
Call Pain
Put Pain
Total Pain
40
0
123000
123000
50
0
55000
55000
55
0
32000
32000
60
0
11500
11500
65
3000
8000
11000
70
9000
5000
14000
75
28000
3000
31000
80
49500
1500
51000
85
80500
1000
81500
90
111500
500
112000
95
148500
0
148500
100
193000
0
193000
105
238500
0
238500
110
289000
0
289000
115
344500
0
344500
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.